Steemit competitor Publish0x wants users to pay with tips

Steemit is known for popularizing crypto gratuities, as Steem-Dollar users can donate to their favorite authors. Many blockchain-based competitors, including Trybe and Minds, have surfaced, and now a new competitor named Publish0x has gone online with a particularly tempting reward scheme.

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Free tips and rewards back

A feature of Steemit that is not always mentioned is the fact that users who comment on posts and leave comments also receive a set of content rewards-authors do not get the full reward. Publish0x brings this to a new extreme by allowing users to return up to 80% of each tip.

And like Steemit, users do not have to buy tokens. Publish0x sponsors its own reward offer and lets users tip free of charge. Currently, the site itself is paying the costs, but plans to use revenue from external sponsors to keep the tips free.

In the end, Steemit and Publish0x are quite similar. The main difference is that Publish0x's tipping model does not include wallet prints or, of course, less popular content gets less good rewards, no matter how the numbers are counted.

An ongoing fundraising model

Nevertheless, it costs money to make a service for free. Tipping timeouts prevent someone from playing the system, and Publish0x indicates to be selective in adding authors. Presumably limiting the number of authors, which Steemit does not do, will prevent Publish0x's reward offer from being quickly exhausted.

In terms of revenue, Publish0x distributes its rewards in the form of an existing token. This means that the site could be put into operation without ICO and without searching for investors. Instead, Publish0x looks for projects to continually promote the provision of tokens. In return, these sponsors can distribute their own token on the website.

This approach can help the site avoid some of the traditional barriers to crypto fundraising. Peepeth, an Ethereum-based Twitter clone, has also used traditional fundraising to avoid the problems of ICOs. The fact that Publish0x does not need to keep users interested in longer token sales can benefit greatly.

No relation to 0x

Regardless of what the name implies, Publish0x has almost no reference to 0x, an important distributed exchange protocol, and top-40 encryption. Instead, Publish0x uses Bounty0x as a reward token. Bounty0x refers to District0x, a marketplace that uses 0x in a limited capacity for power payments.

This descent may be confusing, but in the end, users are not paid in 0x tokens (ZRX). At the moment, Bounty0x, an Ethereum-based token, is the only token that is available as a reward. The binding of the site to 0x is further extended as it adds more Ethereum-based tokens to the mix.

This type of lending of names is quite common as many crypto projects are not trademarked. The question of which projects deserve to use the word "bitcoin" is another hot topic, and 0x seems to be on the way to a generic krypton name – whether that leads to confusion or not.